Financial Services Committee

Press Releases

House Republicans Urge Justice Department to Investigate Role of Fannie, Freddie in Current Crisis

WASHINGTON,
October 21, 2008 -

Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, joined other House Republicans in requesting that the Department of Justice (DOJ) examine the role of Fannie Mae and Freddie Mac in the current financial crisis as part of DOJ’s ongoing “Operation Malicious Mortgage” investigation. Republicans called for the probe to include the extent to which the Community Reinvestment Act (CRA) contributed to the mortgage meltdown.

Republicans also urged the DOJ to adopt a more focused effort to investigate mortgage-related fraud allegations nationwide.